Part 3/6:
- Bearish Case: Conversely, a close below the current levels may suggest inadequate momentum to reverse the trend, predicting a decline to the 35K mark, which would be a worrying signal for the market.
Ethereum's Downward Trend
Ethereum presents a less optimistic picture. Having consistently failed to maintain its upward trend and recently moving under the established trend line, investors are advised to exercise caution. The primary use of Ethereum revolves around decentralized finance (DeFi), but low transaction fees and inadequate burning mechanisms have led to continued price depreciation.